ADN Telecom IPO Result 2024. IT company ADN Telecom’s Initial Public Offering (IPO) date for the lottery draw has been set. ADN Telecom IPO Result will be publish on November 28 at 10am at the Engineers Institution in the capital. The sources said the information.
ADN Telecom’s IPO approved by BSEC.The initial public offering (IPO) of ADN Telecom Limited begins on November 4, with the company aiming to raise Tk57 crore from the capital market through Book Building method.
ADN Telecom IPO 2021
The IPO will stay open for both resident and non-resident Bangladeshis till November 11 this year. ADN Telecom IPO issue manager is ICB Capital Management Limited.
The market lot is consisted of 100 shares while each IPO share is priced at Tk27. The Bangladesh Securities and Exchange Commission (BSEC) last September approved the prospectus for the IPO of ADN Telecom.
ADN Telecom IPO Information
- Name: ADN Telecom Ltd.
- Subscription period: November 4 till November 11.
- Stock lot total: Tk 2,710. (Premium Tk. 17 per share)
- Public offering: 19,791,666 shares.
The cut-off price on the Initial Public Offering of ADN Telecom was set at Tk27 per share, as the company aims to raise Tk57 crore from the capital market. As per the book building method, eligible institutional investors took part in the price discovery of the shares by bidding over a fixed time.
With a proposed rate between Tk45 and Tk30, the bidding process ended with the cut-off price set at Tk30. A total of 600 bidders participated in the process.
ADN Telecom IPO Result Download
Distribution of Refund Warrant
According to the rules of the book building method, shares will be sold to general investors at a 10% discount, amounting to Tk21 per share.
About ADN Telecom Ltd
It’s the leading ISP, MPLS, IPLC, and IP Telephony service provider in Bangladesh, initiated its glorious journey back in 2003. It is one of the major sister concerns of “ADN Group” along with ADN Technologies Ltd, Tech Valley Networks Ltd (TVNL), InGen Technologies Ltd, and ADN EduServices Ltd.
ADN Telecom was launched as a Private Limited Company and designated as the ‘Advanced Data Networks System Ltd.’ till 2012. From 2013, ADN Telecom Ltd. is marching ahead with glory with the current title. Besides offering the service as mentioned earlier, ADN Telecom covers other IT services like Data and Voice to Local and International clients to the countywide range.